Road to AAA Status
Bond Ratings Information
The nation's top bond rating agencies have again affirmed Loudoun County's AAA rating on its general obligation bonds, noting the county’s robust economy, the size and diversity of its tax base, growth potential and strong management. Loudoun County has held the Aaa rating from Moody's since 2004, and AAA from Fitch Ratings and S&P Global since 2005.
June 2018 Ratings Reports Highlights
- Fitch said the rating reflects Loudoun’s “exceptionally strong operating performance, supported by solid revenue growth and solid expenditure flexibility.”
- Moody’s highlighted Loudoun’s “sizeable and diverse tax base with strong long-term growth potential, above average wealth levels, consistently solid financial performance and a manageable debt burden.”
- S&P Global highlighted Loudoun’s “very strong economy, budgetary performance and flexibility, and very strong management.”
A triple-a bond rating is important to the county government and taxpayers because it helps the county continue to get the best possible interest rates to finance capital projects, saving millions of dollars.
Past Upgrades & Reaffirmations
- May 2017: Three major bond rating agencies reaffirm triple-A status
- November 2016: Three major bond rating agencies reaffirm triple-A status
- May 2016: Three major bond rating agencies reaffirm triple-A status. Also, Fitch Ratings upgraded Loudoun County's rating from AA to AA+ on the Transportation Infrastructure Finance and Innovation Act (TIFIA) loan which goes toward financing the extension of Metro Rail's Silver Line into Loudoun County.
- 2006 - 2015: Three major bond rating agencies reaffirm triple-A status each year.
- December 2005: Standard and Poor's upgrades Loudoun's bond rating from AA to AAA.
- June 2005: Fitch Ratings upgrades Loudoun's bond rating from AA to AAA.
- May 2004: Moody's upgrades Loudoun's bond rating from Aa1 to Aaa.
In 2005, Loudoun County achieved a full AAA status with the three major bond rating agencies when Standard and Poor's upgraded Loudoun's bond rating to AAA, the agency's highest rating. Standard and Poor's joined Fitch Ratings, which upgraded Loudoun to Triple-A in June 2005, and Moody's, which awarded Loudoun its first Triple-A bond rating in 2004.
The upgrades reflected the long-term strengthening of Loudoun County's finances as evaluated by three major bond rating agencies - Moody's, Standard and Poor's and Fitch Ratings.